§ 4-41-101 Short title. [Effective until July 1, 2024.]
§ 4-41-102 Chapter definitions. [Effective until July 1, 2024.]
§ 4-41-103 Creation of Go Build Tennessee Program — Administration by corporation — Composition of corporation. [Effective until July 1, 2024.]
§ 4-41-104 Authority to enter contractual and promotional agreements — Permitted expenditures. [Effective until July 1, 2024.]
§ 4-41-105 Go Build Account created. [Effective until July 1, 2024.]
§ 4-41-106 Duties and powers of corporation. [Effective until July 1, 2024.]
§ 4-41-107 Transfer of revenue from account to corporation. [Effective until July 1, 2024.]
§ 4-41-108 Payment of expenses from moneys transferred from account to corporation. [Effective until July 1, 2024.]
§ 4-41-109 Reporting requirements. [Effective until July 1, 2024.]
§ 4-41-110 Annual audit. [Effective until July 1, 2024.]
§ 4-41-111 Repealer. [Effective until July 1, 2024.]

Terms Used In Tennessee Code > Title 4 > Chapter 41

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affiliate: means any company that controls, is controlled by, or is under common control with another company, as set forth in the federal Bank Holding Company Act of 1956, compiled in 12 U. See Tennessee Code 45-20-102
  • Agriculture: means :

    • (i) The land, buildings and machinery used in the commercial production of farm products and nursery stock. See Tennessee Code 1-3-105

    • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
    • Annual percentage rate: means the annual percentage rate for the loan calculated according to the provisions of the federal Truth-in-Lending Act, compiled in 15 U. See Tennessee Code 45-20-102
    • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
    • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
    • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
    • Applicant: means a person filing an application for a license under this chapter. See Tennessee Code 45-18-102
    • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
    • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
    • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
    • Bank: means any person, as hereinafter defined, doing a banking business subject to the laws of this or any other jurisdiction and, for the purposes of supervision, examination and liquidation, includes industrial investment companies and industrial banks authorized by chapter 5 of this title. See Tennessee Code 45-1-103
    • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
    • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
    • Board: means the state board for licensing contractors, created by §. See Tennessee Code 4-41-102
    • Bona fide loan discount points: means loan discount points actually paid by the borrower to the lender for the purpose of reducing, and that in fact result in a bona fide reduction of, the interest rate applicable to the loan by a minimum of twenty-five (25) basis points per discount point. See Tennessee Code 45-20-102
    • Borrower: means a natural person obligated to pay a home loan, including a co-borrower. See Tennessee Code 45-20-102
    • Capital improvement property: means any real or tangible property needed for a governmental purpose and having a useful life of one (1) year or more, and any real or tangible personal property with respect to which capital outlay notes can be legally authorized and issued by a municipality. See Tennessee Code 7-51-901
    • Cemetery: means any land or structure in this state dedicated to and used, or intended to be used, for interment of human remains. See Tennessee Code 46-1-102
    • Check: means any payment instrument, including any customer authorization for electronic payment. See Tennessee Code 45-17-102
    • Check: means any payment instrument. See Tennessee Code 45-18-102
    • Check casher: means a person who, for compensation, provides currency in exchange for payment instrument received. See Tennessee Code 45-18-102
    • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
    • Commissioner: means the commissioner of financial institutions or the commissioner's designated representative. See Tennessee Code 45-17-102
    • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-18-102
    • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-20-102
    • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-1-103
    • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 46-1-102
    • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
    • Company: includes a bank, trust company, corporation, partnership, association, business or other trust, or similar business entity. See Tennessee Code 45-1-103
    • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
    • Consideration: means and includes any premium charged for the sale of goods, or services provided in connection with the sale of the goods that is in excess of the cash price of the goods or services. See Tennessee Code 45-18-102
    • Construction loan: means a loan for the initial construction of a borrower's principal dwelling on land owned by the borrower, with a maturity of less than eighteen (18) months, that only requires the payment of interest until the time that the entire unpaid balance is due and payable, or a fee in lieu of interest. See Tennessee Code 45-20-102
    • Continuance: Putting off of a hearing ot trial until a later time.
    • Contract: A legal written agreement that becomes binding when signed.
    • Control: means ownership of, or the power to vote, twenty-five percent (25%) or more of the outstanding voting securities of a licensee controlled by any person. See Tennessee Code 45-18-102
    • Conviction: A judgement of guilt against a criminal defendant.
    • Corporation: means a nonprofit corporation, which shall be properly incorporated under the laws of this state and approved by the United States internal revenue service as an organization that is exempt from federal income tax under Section 501(a) of the Internal Revenue Code (26 U. See Tennessee Code 4-41-102
    • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
    • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
    • Currency: includes United States silver certificates, United States notes, and Federal Reserve notes. See Tennessee Code 45-18-102
    • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
    • Decedent: A deceased person.
    • Deed: The legal instrument used to transfer title in real property from one person to another.
    • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
    • Deferred presentment services: means a transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee:

      • (A) Accepting a check dated on the date it was written. See Tennessee Code 45-17-102

      • Department: means the department of financial institutions. See Tennessee Code 45-17-102
      • Department: means the department of financial institutions. See Tennessee Code 45-18-102
      • Department: means the department of financial institutions. See Tennessee Code 45-20-102
      • Department: means the department of financial institutions. See Tennessee Code 45-1-103
      • Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
      • Depository institution: means any company included for any purpose within any of the definitions of insured depository institution, as set forth in 12 U. See Tennessee Code 45-1-103
      • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
      • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
      • Docket: A log containing brief entries of court proceedings.
      • Electronic terminal: means an electronic device through which a person may initiate an electronic fund transfer to access the person's deposit, share, or other accounts or credit facility, and includes, but is not limited to, automated teller machines, cash dispensing machines, point of sale terminals, or other cash, debit, stored value, script, or cash equivalent device. See Tennessee Code 45-16-101
      • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
      • Escrow: Money given to a third party to be held for payment until certain conditions are met.
      • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
      • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
      • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
      • Felony: A crime carrying a penalty of more than a year in prison.
      • Fiduciary: A trustee, executor, or administrator.
      • Financial institution: means a state or national bank, savings and loan association, savings bank, or credit union that owns or operates an electronic terminal. See Tennessee Code 45-16-101
      • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
      • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
      • Foreign access card: means any card or other device eligible for use in an electronic terminal where the foreign access card is not issued to the user by the owner or operator of the electronic terminal. See Tennessee Code 45-16-101
      • Fraud: Intentional deception resulting in injury to another.
      • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
      • Good faith: means honesty in fact in the conduct or transaction concerned. See Tennessee Code 45-1-103
      • Governing body: means the board or body in which the general legislative powers of the municipality are vested. See Tennessee Code 7-51-901
      • governmental entity: means any political subdivision of the state of Tennessee and any municipality, metropolitan government, county or airport authority. See Tennessee Code 7-51-1002
      • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
      • High-cost home loan: means a home loan in which the terms of the loan meet or exceed the rate threshold or the total points and fees threshold. See Tennessee Code 45-20-102
      • Highway: includes public bridges and may be held equivalent to the words "county way" "county road" or "state road". See Tennessee Code 1-3-105
      • Home loan: means a loan in which:

        • (A) The principal amount of the loan does not exceed the lesser of the conforming loan size limit for a single-family dwelling as established by the federal national mortgage association, or three hundred fifty thousand dollars ($350,000). See Tennessee Code 45-20-102

        • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
        • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
        • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
        • interested persons: means any and all persons who have any right or easement or other right in, or incident or appurtenant to, a burial ground as such, including the surviving spouse and children, or if no surviving spouse or children, the nearest relative or relatives by consanguinity of any one (1) or more deceased persons whose remains are buried in any burial ground. See Tennessee Code 46-4-102
        • Interment: means any lawful disposition of the remains of a deceased person as provided by law. See Tennessee Code 46-1-102
        • Item: means any instrument for the payment of money, even though not negotiable, but does not include money. See Tennessee Code 45-1-103
        • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
        • Lands: includes lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
        • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
        • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
        • Lender: means "lender" as defined in 24 CFR 3500. See Tennessee Code 45-20-102
        • Licensee: means a person licensed to provide deferred presentment services pursuant to this chapter. See Tennessee Code 45-17-102
        • Licensee: means a check cashing business licensed by the commissioner to engage in that business in accordance with this chapter. See Tennessee Code 45-18-102
        • Lien: A claim against real or personal property in satisfaction of a debt.
        • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
        • Metropolitan government: means the political entity created by consolidation of all, or substantially all, of the political and corporate functions of a county and a city or cities. See Tennessee Code 7-1-101
        • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
        • Mistrial: An invalid trial, caused by fundamental error. When a mistrial is declared, the trial must start again from the selection of the jury.
        • Month: means a calendar month. See Tennessee Code 1-3-105
        • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
        • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
        • Municipality: means any county or incorporated city or town of the state of Tennessee. See Tennessee Code 7-51-901
        • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
        • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
        • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
        • Oath: includes affirmation. See Tennessee Code 1-3-105
        • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
        • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
        • operating: means that:

          • (A) A charter has been issued to a bank by the United States comptroller of the currency or a certificate of authority has been issued by the commissioner. See Tennessee Code 45-1-103

          • Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
          • Oversight: Committee review of the activities of a Federal agency or program.
          • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
          • Payment instrument: means a check, draft, warrant, money order, traveler's check or other instrument for payment of money, whether or not negotiable. See Tennessee Code 45-18-102
          • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
          • Person: means an individual, group of individuals, partnership, association, corporation, or any other business unit or legal entity. See Tennessee Code 45-17-102
          • Person: means any individual, partnership, association, trust, corporation, limited liability company, or other group, however organized, but does not include the governments of the United States or this state or any department, agency, or instrumentality thereof. See Tennessee Code 45-18-102
          • Person: means any individual, corporation, partnership, trust, or any other business unit or legal entity, as the context may require. See Tennessee Code 45-20-102
          • Person: means an individual, corporation, firm, trust, estate, partnership, joint venture, or association. See Tennessee Code 45-1-103
          • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
          • Plaintiff: The person who files the complaint in a civil lawsuit.
          • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
          • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
          • Points and fees: means as defined in 12 CFR 226. See Tennessee Code 45-20-102
          • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
          • Probable cause: A reasonable ground for belief that the offender violated a specific law.
          • Probate: Proving a will
          • Property: includes both personal and real property. See Tennessee Code 1-3-105
          • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
          • Rate threshold: means that the annual percentage rate of the loan at the time the loan is consummated is such that the loan is considered a mortgage pursuant to § 152 of the Home Ownership Equity Protection Act of 1994, codified as 15 U. See Tennessee Code 45-20-102
          • Real Estate Settlement Procedures Act: Federal law that, among other things, requires lenders to provide "good faith" estimates of settlement costs and make other disclosures regarding the mortgage loan. RESPA also limits the amount of funds held in escrow for real estate taxes and insurance. Source: OCC
          • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
          • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
          • remains: means the body of a deceased person, including the body in any stage of decomposition, and cremated remains. See Tennessee Code 46-1-102
          • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
          • Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
          • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
          • Road: includes public bridges and may be held equivalent to the words "county way" "county road" or "state road". See Tennessee Code 1-3-105
          • Savings and loan association: includes a building and loan association, a federal or state savings and loan association, a federal savings bank, and any other financial institution, the accounts of which are insured by the federal savings and loan insurance corporation (FSLIC) or any successor of such corporation. See Tennessee Code 1-3-105
          • Service of process: The service of writs or summonses to the appropriate party.
          • Servicer: means any person who in the regular course of business assumes responsibility for servicing and accepting payments for a high-cost home loan. See Tennessee Code 45-20-102
          • Services: means acts performed by a cemetery company on its premises in the final interment of human remains or the installation of cemetery merchandise used in connection with final interment. See Tennessee Code 46-1-102
          • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
          • Shared electronic network: means any system by which a person may initiate any financial transaction from an electronic terminal owned or operated by any person other than a financial institution with whom the person has a deposit, share, or other account or credit facility. See Tennessee Code 45-16-101
          • signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
          • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
          • Statute: A law passed by a legislature.
          • Subpoena: A command to a witness to appear and give testimony.
          • Summons: Another word for subpoena used by the criminal justice system.
          • Testify: Answer questions in court.
          • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
          • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
          • Total loan amount: means the term as defined in 12 CFR 226. See Tennessee Code 45-20-102
          • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
          • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
          • Usage fee: is a ny fee charged by the owner or operator of an electronic terminal on transactions by a holder of a foreign access card. See Tennessee Code 45-16-101
          • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
          • Venue: The geographical location in which a case is tried.
          • Verdict: The decision of a petit jury or a judge.
          • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
          • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
          • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105